SROI Flyer

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Annualized Contributions to Society $1,193,140 Income Taxes Paid, Social Security, Sales Tax Dollars Spent 1 Annualized Savings to Society + $4,023,673 Temporary Assistance for Needy Families, Food Stamps, Unemployment, Health Care, Substance Abuse Treatment, Housing, Recidivism and Rearrest for Prison and Jail, Children Returned though the Department of Children and Family Services, Medicaid 2 Total One-Year Social Impact $5,216,813 703 W. Monroe | Chicago, IL 60661 | 312-798-3300 | [email protected] Social Return on Investment (SROI) Present Value of Social Investments (Over Five Years)* $20,934,326 * ‘Present Value’ = ‘Total One-Year Social Impact’ x 5; then discounted based on 30-year treasury bond data, plus an additional 5% to acknowledge the risk inherent in this work. The Cara Program’s One-Year Operating Cost ÷ $4,166,508 Social Return on Investment 502.4% Our Social Impact: Determining the Social Return on Investment:

Transcript of SROI Flyer

Page 1: SROI Flyer

Annualized Contributions to Society $1,193,140Income Taxes Paid, Social Security, Sales Tax Dollars Spent1

Annualized Savings to Society + $4,023,673Temporary Assistance for Needy Families, Food Stamps, Unemployment, Health Care, Substance Abuse Treatment, Housing, Recidivism and Rearrest for Prison and Jail, Children Returned though the Department of Children and Family Services, Medicaid2

Total One-Year Social Impact $5,216,813

703 W. Monroe | Chicago, IL 60661 | 312-798-3300 | [email protected]

Social Return on Investment (SROI)

Present Value of Social Investments (Over Five Years)* $20,934,326* ‘Present Value’ = ‘Total One-Year Social Impact’ x 5; then discounted based on 30-year treasury bond data, plus an additional 5% to acknowledge the risk inherent in this work.

The Cara Program’s One-Year Operating Cost ÷ $4,166,508

Social Return on Investment 502.4%

Our Social Impact:

Determining the Social Return on Investment:

Page 2: SROI Flyer

1 Contributions to Society include payments made by our employed students in 2008:

$745,130 in federal and state taxes; •

$307,987 in Social Security taxes; •

$140,022 in sales tax. Sales tax fi gure is based on average estimated expenditures, with sales tax of 10.25% in the City of Chicago. Sales tax spending • is based on data from Bureau of Labor Statistics, Thursday, February 9, 2009. “Consumer Spending Patterns In The Chicago Metropolitan Area, 2006-2007.” 2 Savings to Society include:

$32,376 in Temporary Assistance for Needy Families (TANF); •

$395,340 in Food Stamps; •

$85,602 in Unemployment; •

$1,087,200 in Healthcare: O’Connell JJ, Swain S. Rough Sleepers: A Five Year Prospective Study in Boston, 1999-2003. Presentation, Tenth Annual Ending • Homelessness Conference, Massachusetts Housing and Shelter Alliance, Waltham, MA 2005.; Annual cost adjusted for infl ation using Bureau of Labor Statistics online calculator (http://data.bls.gov/cgi-bin/cpicalc.pl);

$96,767 in Substance Abuse Treatment: Nationally, approximately 50% of people with a substance abuse history relapse (http://www.prweb.com/ • releases/2008/12/prweb1757044.htm), while only 2% of Cara students in 2008 were dismissed due to a relapse.; Savings calculations based on: “The Effectiveness of Substance Abuse Treatment Among Welfare Clients: Results of the Illinois TANF Treatment Outcomes Project”, August 2002, Maria Bruni, Ph.D., Director of Research and Evaluation, Offi ce of Alcoholism and Substance Abuse. ; Average treatment in 2001 (averaging a high of $3,195 and low of $230) adjusted for infl ation;

$99,528 in Section 8 Housing: Audit Report conducted by the Offi ce of Inspector General on the Housing Authority of the County of Cook, July 11, 2006.; • Audit Report # 2006-CH-1012. Average monthly Section 8 payment in 2005 adjusted for infl ation;

$411,264 in Homeless Shelters: “Costs of Serving Homeless Individuals in Nine Cities”, The Lewin Group (11/19/2004) - Prepared for The Partnership to • End Long-Term Homelessness. Monthly averages based on daily rate x 30 days and adjusted for infl ation;

$578,340 in Transitional Housing: “Costs of Serving Homeless Individuals in Nine Cities”, The Lewin Group (11/19/2004) - Prepared for The Partnership • to End Long-Term Homelessness. Monthly averages based on daily rate x 30 days and adjusted for infl ation;

$492,083 in Recidivism and Rearrest for Prison and Jail: “Recidivism of Prisoners Released in 1994”, Bureau of Justice Statistics Special Report. June • 2002, NCJ 193427. ; “Does it Pay to Invest in Reentry Programs for Jail Inmates?”, John Roman and Aaron Chalfi n, Justice Policy Center, 2006. Jail Reentry Roundtable Initiative, The Urban Institute.; “State Prison Expenditures in 2001”, Bureau of Justice Statistics Special Report. June 2004, NCJ 202949.; Cost per inmate, per month, adjusted for infl ation;

$72,415 in savings to the Department of Children and Family Services for Children Returned to their Parents: http://www.gocwi.org/communications/ • case_studies/case_studies/CCAI_FactSheet.pdf;

$234,416 in Medicaid: http://inside.nachri.org/AM/Template.cfm?Section=Site_Map3&Template=/CM/ContentDisplay.cfm&ContentID=1854. •